Tag Archive | black business council

On 01 June 2017, Fitch Ratings (Fitch) downgraded South Africa’s long-term foreign and local currency debt to ‘BB+’ from ‘BBB-‘ with a stable outlook, a non-investment grade rating. Sello Rasethaba, Chairman of the Black Business Council (BBC) notes that the announcement by Fitch “is a setback, we must remain committed to making sure that our […]

The Black Business Council (BBC) has announced the termination of cooperation with the Business Unity South Africa (BUSA), following over 23 years of partnership and dialogue between White and Black business at the National Economic Development and Labour Council (NEDLAC). The BBC made this announcement after an unfortunate incident that transpired at the last NEDLAC […]

Following the announcement by Standard & Poor Global Ratings Agency to downgrade South Africa to sub-investment grade, the Black Business Council (BBC) believes that this is a questionable and a bad judgment by the agency. This comes on the back of S&P’s pronouncement that in their opinion the executive changes undertaken by President Zuma have […]

The Black Business Council (BBC) is excited to have partnered with the Department of Trade and Industry (the dti) to advance Broad-based Black Economic Empowerment and to promote the Black Industrialists programme. These programmes are geared towards black business owners in manufacturing. The BBC is spearheading Radical Economic Transformation to tackle the lack of economic […]

Outspoken transformation lobbyist Mzwanele Manyi has resigned as head of policy at the Black Business Council (BBC). The announcement was made by the BBC’s secretary-general George Sebulela, who said Manyi’s resignation from his elected position is with effect from the 20th March. Sebulela said Manyi sent his resignation letter to the council’s president, Dr Danisa […]

The Black Business Council (BBC) and the black Business Council in the built Environment (BBCBE) feel undermined by the seven listed construction giants upon signing the voluntary rebuilding programme (VRP).The VRP is a program for redress post the findings of the competition commission (CC) and subsequent fast track settlement process between the cc and the […]

National Treasury has revised the Preferential Procurement Regulations, 2017, which were gazetted on 20 January 2017. According to the National Treasury, the regulations were initially promulgated in 2001 and revised in 2011, making this the second revision since the initial promulgation. “The revision of the Preferential Procurement Regulations of 2011 was largely influenced by the […]

While the Congress of South African Trade Unions’ (Cosatu) has been campaigning for their outright ban; Cabinet has recommended that the Basic Conditions of Employment Amendment Bill and the Labour Relations Amendment Bill be amended repudiating the unions’ position. This is a position backed by the Black Business Council and other black business organisations. To […]

Pretoria – President Jacob Zuma says a robust partnership between government, business and the labour sector is needed to address the economic challenges facing the country. “There is a need to work together on our economy… which has also faced pressure due to the current wave of strikes.?We reiterate our call to business and labour […]

Pretoria – Cabinet has expressed concern over the lawlessness, violence and intimidation that it says has continued to mar the democratic right of workers to strike. The strike in the transport sector has been marked by incidents of violence and intimidation since the strike began three weeks ago. “It is a fact that as a […]